Auto Suppliers Under Pressure to Shift Production Abroad
A new study soon to be released by the Society of Automotive Engineers (SAE) is showing that the pressure to move automotive manufacturing jobs abroad will continue, despite federal and local government efforts to maintain or increase industry employment levels in the U.S. The SAE will release the report at the 2004 SAE World Congress in Detroit next month. The study, which is still under development, will outline “best practices” for global automotive suppliers. The Odyssey study seeks to help suppliers understand how their global manufacturing operations will need to change and how best to make those changes to survive and thrive.
SEMA Expands Installer/Specialist Test Programs with Custom Wheel and Tire Accreditation Test
SEMA has added a custom wheel and tire specialist exam to its battery of certification tests. The new test, known as Z5, will measure real-world knowledge and skills of the wheel and tire professionals who install custom applications on passenger cars and light-duty trucks. SEMA has added a custom wheel and tire specialist exam to its battery of certification tests. The new test, known as Z5, will measure real-world knowledge and skills of the wheel and tire professionals who install custom applications on passenger cars and light-duty trucks.
TBC Reports Record Fourth Quarter and Year-End Results
TBC Corp., one of the nation’s leading marketers of automotive replacement tires, reported record sales and earnings for the fourth quarter and year, which ended December 31, 2003. Net sales in the fourth quarter increased 33.5 percent to $370.7 million, compared to $277.8 million in the prior-year period. Same store sales for TBC’s retail segment increased 4.5 percent in the fourth quarter. TBC’s total unit tire sales increased 10.7 percent in the fourth quarter, compared to a 2.2 percent increase in unit shipments by tire manufacturers based on preliminary reports.
Dura Loss Shrinks
Dura Automotive Systems Inc., which makes automotive parking brakes and seating controls, said its fourth-quarter loss narrowed to $2.86 million, helped by currency exchange rates and acquisitions. Dura’s net loss narrowed to 15 cents a share from a loss of $90.7 million, or $4.97, a year earlier. Sales rose 8.8 percent to $627.2 million from $576.5 million, the Rochester Hills-based company said.
Dana Restructuring Helps Rebound
Auto parts maker Dana Corp. credited its restructuring plan and an increase in heavy-truck production for its fourth-quarter rebound. Toledo-based Dana had a fourth-quarter profit of $68 million, or 45 cents per share. Excluding onetime items, the company earned 41 cents per share, or 1 cent higher than the expectations of analysts surveyed by Thomson First Call.
Autoliv Raises Dividend by 33 Percent
Autoliv has increased its quarterly dividend to shareholders by 33 percent, from 15 to 20 cents per share. The dividend will be payable June 3 to stockholders of record on the close of business on May 6.
General Parts to Offer AutoComLink Suite of Software Products
Automotive replacement parts distributor General Parts Inc. has announced a merger with Automotive Communications Link Inc., a provider of business management software for automotive repair professionals. Automotive Communications Link does business under the name “AutoComLink.” Through the merger, General Parts will offer AutoComLink products, which includes an Internet-based auto parts ordering application (EZ2LINK), a repair estimator system (EZ2Estimate) and a business and inventory management system for automotive repair facilities (POWERLINK).
Clemson Nabs Top Leader For Auto Project
The new director of Clemson’s automotive research center drives a minivan, but Robert Geolas does not recall how many pistons it packs. Geolas, a North Carolina State grad, said his Honda CRV was built in 1991. Or was that 1992? His wife once told him he did not have enough automotive experience to change a tire. “I hope they didn’t hire me to be an automotive expert,” Geolas said. But Geolas said there are plenty at Clemson. He said the university has automotive engineering talent and the vision to build a graduate program designed to attract research and higher-paying jobs to South Carolina.
Tower Plant Move to Affect Nearly 500 Employees
Earlier this week, Tower Automotive announced that in 2005 it will move production of Dodge Ram frames from its facility in Milwaukee to a plant in Mexico. In response to this news, the Milwaukee Journal Sentinel ran a story detailing the impact this move with have on Wisconsin’s manufacturing base. According to the Sentinel report, nearly 500 Milwaukee factory workers will lose their jobs as a result of the move. Almost 80,000 factory jobs have already disappeared from Wisconsin since 1999, the article stated.
Car Care Council Offers “Be Car Care Aware” Starter Kits for National Car Care Month
“Be Car Care Aware” point-of-sale starter kits — containing marketing and promotional materials to help businesses promote vehicle maintenance and the on-going “Be Car Care Aware” consumer education campaign — are available just in time for National Car Care Month in April. The starter kit features National Car Care Month materials that can be used each April to celebrate and promote this national event. The kit includes “Be Car Care Aware” signage, consumer literature and the industry’s first comprehensive service interval schedule.